Good morning from the Financial Times. Today is Tuesday, March 9th,

and this is your FT News Briefing.

Tech stocks drag down Wall Street on Monday. Greenself capital filed for administration in the UK

and the giant asset management firm Apollo will get even bigger after it merges with the life

insurance company Athene. Athene has paid hundreds of millions of dollars a year to Apollo in

exchange for managing its assets. What happens now is that these two companies become one.

The FT's Mark Vanneveld will unpack the deal that'll create a 29 billion dollar financial

conglomerate. I'm Mark Filipino and here's the news you need to start your day.

Monday was a tough day for tech stocks. The NASDAQ composite fell 2.4% putting it in what's

called a technical correction. That means it's fallen more than 10% from its peak last month.

The FT's US equities correspondent Aziza Kazumov has more.

I think the big thing that fueled the market decline that we saw Monday

is that the almost two trillion dollar stimulus package is now really within reach.

My investors are nervous about pushing all that additional cash into the economy.

The stimulus is obviously a great boost for American families and businesses looking to get

back on their feet, but it could also trigger higher inflation by increasing demand for goods and

services. So for equities, some inflation is actually good because it signals economic growth,

but when inflation at interest rates rise too quickly, that decreases the value of company's

future earnings. That's what's sort of spooking investors right now.

So going back to the technical correction, is it merely symbolic? What happens now?

So I think the NASDAQ, which is dominated by a lot of big tech, is sort of a bit more susceptible

to this whole inflation dynamic that I just mentioned. That's because a lot of these sky high

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